Find out more about Papaya Global Payroll Capterra ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and trusted approach of paying to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a significant amount of time every month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Worker Portal offers employees with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to global workers regardless of the variety of staff members in the business. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local benefits providers in every country, produce local accounts and have a minimum number of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work costs distributed per place, overall work costs per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout business managing and structure external relationships supporting Enterprise clients and options in addition to serving as a consultant for those of you that do not know who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very extremely dreary and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll also go over a wrap-up and that ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of common and managing them becomes more and more intricate Worldwide companies are looking to find Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment perspective lots of companies preserve different checking account just for payroll while some have numerous accounts in various countries does it make sense for business to keep separate bank accounts sometimes in different countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies streamline the episode complex procedures of
making payroll payments properly effectively securely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most notably guidelines compliance information security and banking guidelines then there are the large numbers they include additional intricacy the worldwide Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll design there's often a frustrating number of different systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really basic there's no genuine consistency framework we're residing in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on global payroll the less of an image they see an absence of presence also extends to payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors badly interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is shipped to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they depend on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're paying to staff members or otherwise that's an excellent question I always throw this back and say what is it what does not require to be consisted of right and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look right eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to type of move on with that it also too to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely vital that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being used by businesses across the world so again you're just seeking to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine challenging type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding info into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from a cost viewpoint from an impact perspective on workers it is absolutely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging effect on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been amazed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just see when things fail. Nevertheless, when things go right, it's seen as just a routine task. This is how it's perceived externally too. Therefore, it is essential to ensure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the very first International Payments very first payroll payment option is a great preliminary step towards providing a detailed payroll service for staff members worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and checking account needed for international payroll are essential factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyhow we know how how essential a function it is and that's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everybody that's involved in those procedures and likewise so think of sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and sort of shot to return to everyone so proceeding look why do companies select to main different bank accounts there are services out there doing precisely this for particular nations and I have actually worked in a business or many companies doing exactly that I can state it doesn't always feel efficient and it does produce more work I know we're not purposely doing that we're not producing extra work for anybody where we don't have to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe people have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it requires changing however eventually individuals are extremely stuck with what they're familiar
with best um modification is a difficult thing all of us do not like modification um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having maintaining numerous savings account but there's a substantial quantity of complexity goes with establishing a savings account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is big however I believe the honest response is change um people haven't been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or so there is a lot to keep track of and this technique does pose numerous challenges um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this improved ability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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